Makes you proud to be British, doesn\’t it?August 9, 2011 Tim WorstallCurrent Affairs7 CommentsReports of looters queuing? If nothing else, we\’ve been able to teach them that part of Britishness. previousNew Blog out therenextAnd the old shall become new again 7 thoughts on “Makes you proud to be British, doesn\’t it?” DBC Reed August 9, 2011 at 8:03 am Would have thought the wonder of the markets should be apparent by now,coming to the rescue. A lot of shops round our way are closed and deserted;there is no effective demand ,not the money in people’s pockets.This mob-handed shoplifting could be considered in that context. You angry blustering enemies of the mixed economy have got a lot to answer for, I’m afraid. Tim adds: Don’t be such a blithering idiot. It really isn’t the absence of State owned sporting goods stores that has the mob plundering privately owned sporting goods stores. As to empty shops more generally 10% of retail sales are now made over the internet. Ceteries Paribus this means we probably need 10% less retail space. We’re going through a structural change in shopping habits, not just a change in retail demand. blokeinfrance August 9, 2011 at 10:18 am If you squint hard enough you can see that looting is just shopping out of opening hours. BTW, what is so great about looting carpet stores? Are there more fitters than the economy can support? DBC Reed August 9, 2011 at 12:11 pm Who’s the blithering idiot? A mixed economy does n’t have State owned sports good stores.It has private shops and public swimming pools ,giving, until recently ,free swimming to kids .But we can’t have subsidies can we: that’s only for homeowners who are bribed with unearned capital gains in house prices?It might have been sensible to provide free, keep-kids- off-the streets forms of recreation in the summer but that was all sacrificed to laissez faire fundamentalism. Similarly the EMA ,the abolition of which has really stuck in some kids’ throats. With shop desertion you are coming up with the techological determinism line cut with laissez faire,which without Retail Price Maintenance simply leads to retail cartels and, in some places, monopoly ,another attack on the mixed economy. You had better get your act together because the marky- warkets are coming badly unstuck. How’s the Stock Market doing ?Below 5,000.Hmmn .Perhaps the man was right who sought to aboloish it.Who that?Harold Macmillan,a mixed economy sensiblist. Tim adds: Umm…..”without Retail Price Maintenance simply leads to retail cartels” RPM *is* a cartel. It’s saying that no one may compete on the basis of retail margins. So, no Amazon which can sell stuff on lower margins. MatGB August 9, 2011 at 12:24 pm Yup, Youtube video, wood green looting 1, about 1’40”, clear line of people waiting to get their turn in a JD sports. Of course, that was night 1, when it was opportunists, not the gangs that’re currently running the show. Mr Ecks August 9, 2011 at 1:21 pm You talk out of your socialist backside Reed. The Internet may have done for some shops. Thieving Council business rates and endless moronic regulatory dictates adding to the cost of doing business have done for lots more. Socialism, both state and corporate,both red and blue in action. And you are suggesting that all this thieving shite are in the streets looting because someone else isn’t paying for free swimming for them? As for the markets coming unstuck that is because the political shite, whose arse you love to kiss, have bankrupted themselves and run up debts (and most of us didn’t ask ’em to) large enough to do horrific damage to everybody. Since you and your leftist friends were at the forefront of those calling for “govt spending” I suggest you push your way to the front of the queue of those who are going to pay back the states debts and roll your fucking selves up. The market will survive if there is to be a future. Socialisn won’t. DBC Reed August 9, 2011 at 8:04 pm To deal with matters of fact: RPM is not a cartel system ; manufacturers are free to set their own prices; there is plenty of competition. As to debts Mr Ecks ,if you have a calm moment ,you may reflect that a lot of these were run up by the private sector market in property ,which the banks tried to capitalise and which then had to be bailed out by the State.Now the the various states are burdened by the passed-on debt.And there is no one higher to bail out the State debt. I have n’t argued for Socialism as such, only the post-war mixed economy which you foul- mouthed subversives have undermined.And I bet you’re very pleased with yourselves. Si monumentum requiris, circumspice. Tim adds: Why do you think that only manufacturers can have a cartel? Retailers, can, unions can, governments can, heck I’m sure there’s been a cartel of arse wipers at some or other point of history. RPM is a retailers’ cartel. That’s why it’s a bad thing because cartels are bad things. DBC Reed August 10, 2011 at 7:44 am Terms from Worstall come to mind: “ignorant tosspot” etc.You know nothing of RPM : the American Supreme Court case of Leegin Creative Leather vs PSKS dba Kay’s Kloset rehearses all the arguments ,many put by Univ of Chicago expert witnesses, but you are too fond of your own prejudices to look it up.NB The USA has relegalised RPM. The American Stock Market has rallied .On the promise of more QE money from Bernanke!What a farce! The markets are being propped up by huge subsidies from the State. Just as Herren von Hayek and von Mises insisted – not. Of course giving QE to consumers as a National Dividend or to pay to employ people in the public services would never do: it would compromise the ideological purity of laissez faire which works so well (when the state comes to its rescue on a recurring basis). BTW National Dividends are not socialist policy (for those who have not heard of Social Credit either .Actually Gesellian stamp money is worth considering but the opportunity for discussing it no longer exists.) Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment.